BEVERLY HILLS, January 16, (THEWILL) – Vice President Yemi Osinbajo has urged Nigerians to be prepared for an economy that would cease to depend on oil for its major source of revenue.
Osinbajo made the call on Monday during his peace tour across oil producing communities in the Niger Delta revealing that countries who buy oil from Nigeria are now devising alternative means of power such as solar and wind energy.
Speaking to an enlarged crowd after a closed-door meeting with the Gbaramatu leaders at the palace of the Pere of Gbaramatu kingdom, Oboro Gbaraun II, Osinbajo said Nigerians must prepare for a future where oil could be irrelevant and recognise that the future is full of challenges for the oil industry.
“In another 20 to 30 years, our oil won’t be as precious as it is today and that is reality,” he said.
“If there is no revenue, we are deceiving ourselves. There must be revenue and it can only come when there is peace. There should be commitment to peace.
“America has stopped buying oil from us. All the countries of Asia that buy oil from us are building alternative means of power, China and Japan are developing electric cars. In fact, Japan has more charging stations than petrol stations. Solar power is getting cheaper.
“We must be smart we must act intelligently and fast. To prepare for a great future for the Gbaramatu kingdom, three things must happen: we must recognise the unique environmental challenges the Niger Delta is facing, we must also recognise that the Niger Delta is a special economic zone for this nation so we must treat it as a special development zone.
“This means the federal government, state government, National Assembly, NDDC, civil societies representing Niger Delta must sit together and develop a plan for rapid development.
“There is no excuse for not planning together. The federal government cannot solve the problem of Niger Delta. It is impossible for the FG to do it alone. The state should devote substantial portion of its budget to this special project.
“In the 2017 budget, we have provided for the commencement of the Lagos – Calabar rail way which will go through Delta. We are working with the Chinese on this project.
“When I leave here we will visit the site of the Maritime University. The president has directed the ministry of petroleum to work quick to see to the realisation of all of the objectives of implementing this crucial educational institution.
“Establishing this university has passed the second reading in the National Assembly and I know we have the commitment of the members of the national assembly to fast track this bill so that the maritime school will be completed as soon as possible.”
